insurance question
12-21-2007, 09:46 PM
#1
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insurance question noooooooo had a little accident with my camaro. front drivers end a little crushed in i dont have any pictures but i know that the damgage is about 6k worth of damage. My insurance company wants an aprasail of the car becayse they want to total it or some Sh**. it is a 2001 camaro a4 with 70k miles ....could they really total it with only 6k of damage
Last edited by chevy0128; 12-21-2007 at 10:19 PM.
12-21-2007, 09:50 PM
#3
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whaaat you have to be kidding i know the car is worth more than that. what is the rule on totaling a car. It doesnt mkae sense to me that they would rather send me a check for the value of the car(has to be over 6 grand) then pay for the repair.
12-21-2007, 11:03 PM
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If the sub frame or chassis is bent beyond repair they will total it. My advice to you is if the front is that bad let them total it then buy it back which is usually 10% of payout then buy a new one
12-21-2007, 11:13 PM
#6
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what is 10% of payout. so it is a 70k mile 2001 camaro. around how much would it cost to buy back. Also anyone know how much i should expect to get if they do total it..ballpark figures pleasee
12-22-2007, 12:17 AM
#7
Go to kbb.com and find out what the car's worth. I don't know if they'd go closer to retail or private party though. And as for the rule on totalling a car. I've heard that if the damage is equal to, or greater than half the value of the car, they'll total it. Don't know for sure though.
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12-22-2007, 05:16 AM
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Depends on the insurance company.
IF they total it, they would base the value of the car on "similar" cars that have been bought in sold in the last couple of months, but can go back 2 prior years.
And it's standard operating procedure to "appraise" the vehicle.
What makes you think they will total it? You described it as a "little" accident".
IF they total it, they would base the value of the car on "similar" cars that have been bought in sold in the last couple of months, but can go back 2 prior years.
And it's standard operating procedure to "appraise" the vehicle.
What makes you think they will total it? You described it as a "little" accident".
12-22-2007, 06:09 PM
#11
Look for cars similar to yours for sale locally, I am sure they will cost more than 6K. If you prove to the insurance company what others are selling for you should be able to get that money kind of money out of yours. It's pretty hard to appraise a car that has been in an accident.
12-24-2007, 12:21 AM
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Insurance companies are supposed to put you back to the place you were before the accident. Use NADA retail value to appraise your car. If the cost of repairs is over 75% of market value they will probably total it. They should pay you retail NADA price plus the sales tax on that price. Remember the adjuster is paid to settle for as little as possible so expect to do some negotiating to get what it's worth. If you have other transportation so you don't need to hurry to settle it's to your advantage.
12-24-2007, 04:28 PM
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we use NADA retail value. we would offer around $12.5 this depends a lot on the state your in too. and we use a simple formula. if its cheaper to fix it then we fix it. I work for progressive btw. good luck.
12-24-2007, 07:44 PM
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I agree with 00siivergtp, typically if the damages is around 70%-80% of the acv of the car, it is choice of the insurance company whether they want to fix it or not & that also dpends on how much additional hidden damages they may find after disassembly of the vehicle.Remember the insurance company is not ur friend their job is to pay out less as possible. If they don't want to fix ur car & u guys can't come to an agreement to settle, have the insurance company replace ur vehicle with another one that is is similiar condition.
12-24-2007, 11:31 PM
#15
An estimate is just an estimate, once the cars tore down there could be several thousands more in damages, so that always goes into the consideration of the total loss, or repair